Bailey County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Bailey County, Texas based on real HMDA transaction records.

Loan Details

US County (Smart Autofill)

Loan Type

Bailey County, TX Benchmarks

FHA averages

Typical Property Value$189,706

Average Down Payment3.4%

Average Interest Rate6.579%

Effective Tax Rate0.74%

Median Tax Paid$1,601/yr

Tax Growth (Historical)+1.3%

Based on 17 regional loans totaling $3,125,000 (HMDA database).

Home Price

Down Payment

$6,450 down · $183,256 financed

FHA loans require a minimum of 3.5% down payment (or matching dollar amount).

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$117 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$85 / month

Estimated Monthly Payment

$1,541/mo

Principal & Interest$1,188
Property Tax$117
Home Insurance$150
FHA MIP$85

Amortization · Remaining Balance

Financed Loan Amount

$186,463

Total Interest

$241,361

Total of Payments

$427,824

*Includes financed FHA Upfront MIP of $3,207

Local Market Insights

Bailey County FHA Mortgage Overview

In Bailey County, the 3.42% average down payment on an FHA loan provides accessible entry for buyers, though the 96.58% loan-to-value ratio means mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life. This data, reflecting 100% owner-occupied purchases, is crucial when using an FHA loan calculator with PMI and taxes in Bailey County, TX, as MIP is a permanent cost. The 0.74% effective property tax rate, adjusted upward by 1.3% for inflation, adds a predictable monthly burden. For those seeking an FHA loan down payment calculator in Bailey County, Texas, the low 3.42% entry point is ideal for sub-620 credit profiles, but long-term affordability must factor in these mandatory MIP and tax obligations.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.